The Statutory Auditors Regulations 2017

21.  In regulation 59 (review)—

(a) for paragraph (1)(a) substitute—

“(a) carry out a review of the regulatory provision contained in these Regulations to which amendments have been made by—

(i) Part 2 of the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (“the 2016 Regulations”), and

(ii) Schedule 3 to the Statutory Auditors Regulations 2017,”;

(b) after paragraph (1) insert—

“(1A) Section 30(3) of the Small Business, Enterprise and Employment Act 2015(1) requires that a review carried out under paragraph (1)(a)(ii) of this regulation must, so far as is reasonable, have regard to how—

(a) Articles 28 and 38 of Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC(2), and

(b) Articles 16, 17 and 41 of Regulation (EU) No 537/2014 of the European Parliament and of the Council on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC,

are implemented in other member States.”;

(c) in paragraph (2), for “The report” substitute “Section 30(4) of the Small Business, Enterprise and Employment Act 2015 requires that a report published under this regulation”;

(d) in paragraph (5)—

(i) for “meaning given by section 32(4)” substitute “same meaning as in sections 28 to 32”;

(ii) after “Act 2015” insert “(see section 32 of that Act)”.

(1)

2015 c. 26. Section 30(3) was amended by section 19 of the Enterprise Act 2016 (c. 12).

(2)

OJ No L 157, 09.06.06, p.87, last amended by Directive 2014/56/EU (OJ No L 158, 27.05.14, p. 196).